More and more Dutch people are having payment problems due to the high prices. This does not only apply to the lowest incomes, but also to higher income groups, according to the National Institute for Budget Information (Nibud). The organization is particularly concerned about young adults under the age of 35, who have the most difficulty making ends meet.
According to Nibud, a third of households are receiving payment reminders and slightly more than one in five households have made payment arrangements this year. Ten percent have gotten an advance on their salary to pay the bills. To cope with the problems, people also use their savings and borrow money from family and friends.
More than a third of households say they have difficulty making ends meet –– and young adults indicate this much more often. They are mainly affected by the sharp rise in fixed costs.
Of all the bills, those for health insurance, energy, water and the rent or mortgage are most often paid late. “The panic that many experience about all the increased prices is reflected in these figures,” said Nibud director Arjan Vliegenthart. “It is apparent that many Dutch people are burdened by high fixed costs and increasing expenditure. We are really in a spending crisis and people are doing their best to pay all bills.”
According to Vliegenthart, this will make 2023 an interesting year. “To what extent will people benefit from the extensive purchasing power package and the energy ceiling? And will everyone get the help they need?”
Nibud advises people who get into trouble to ask for help and not to borrow a lot of money from their family. Because the institute realizes that not everyone will knock on its door, it has also created its own online course on money matters. “We are also realistic. Not everyone is waiting for help. People increasingly want to find out things themselves, with or without the help of Google or YouTube,” said Vliegenthart.
Reporting by ANP
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